Search found 2566 matches

Return to advanced search

Re: Tax planning for long term capital gains

retiredjg has a good explanation. The STCG is taxed like ordinary income so it sits on top of or with the other income on the bottom so the LTCG , in the first order anyway, doesn't affect the taxation of the ordinary income
by kaneohe
Fri Oct 24, 2014 7:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax planning for long term capital gains
Replies: 6
Views: 344

Re: How to do taxes for sale of deceased father's stocks?

see if TT will allow an "inherited" code/abbreviation/etc. in "date acquired" column. I am not familiar w/ TT but the tax software I used allowed that. That should be enough if you can decipher that it was inherited from the coding. I use paper so an * and a note somewhere on the...
by kaneohe
Fri Oct 24, 2014 3:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to do taxes for sale of deceased father's stocks?
Replies: 9
Views: 541

Re: How to do taxes for sale of deceased father's stocks?

Form 8949 allows you to adjust reported basis if necessary http://www.irs.gov/pub/irs-pdf/f8949.pdf see col f/g a brief narrative would probably also be helpful: e.g. inherited dd/mm/yyyy You may have to distinguish between what the company reports to you and to IRS since reporting to IRS was only r...
by kaneohe
Fri Oct 24, 2014 2:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to do taxes for sale of deceased father's stocks?
Replies: 9
Views: 541

Re: Vanguard, TIPs, Accrued Interest & RMDs

not a TIPS answer but seems similar. PenFed CU has a monthly date for reporting e.g. CDs that is different for different individuals, e.g. 16th of the month. I was concerned that the accrued interest to end of month would make end of year valuation different than the one reported for Dec. However it...
by kaneohe
Fri Oct 24, 2014 11:08 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard, TIPs, Accrued Interest & RMDs
Replies: 6
Views: 422

Re: HSA, Please Help!

The goal is not necessarily to pay 0 CA tax but to earn the most after CA tax. What does your crystal ball tell you about the aftertax(CA) return of TIPs vs your funds? Suppose TIPS returns are 3% and your funds return 5,6, or 7 % before tax. Won't the funds earn more aftertax(CA) than the TIPS? Of ...
by kaneohe
Fri Oct 24, 2014 10:44 am
 
Forum: Personal Finance (Not Investing)
Topic: HSA, Please Help!
Replies: 4
Views: 490

Re: Marginal Tax Rate on Dual Income Couple

....................................... Otherwise, you are engaging in the same erroneous thinking that causes people to say things like "well, there's no point in her working when all of her income just goes to pay for childcare". ............................................. If a couple...
by kaneohe
Fri Oct 24, 2014 9:09 am
 
Forum: Personal Finance (Not Investing)
Topic: Marginal Tax Rate on Dual Income Couple
Replies: 13
Views: 987

Re: Paying Estimated Taxes

Have withholding for yr >= your total tax from last yr( or >= 110% of last yr total tax (if AGI>150K)) for a safe harbor Total tax line 61 on form 1040. Paying with withholding only is more forgiving of penalties because withholding is treated as being paid evenly throughout the yr even though it wa...
by kaneohe
Thu Oct 23, 2014 4:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: Paying Estimated Taxes
Replies: 6
Views: 374

Re: Do inherited IRA's affect taxes due on a Roth conversion

from a previous thread: http://www.bogleheads.org/forum/viewtopic.php?f=1&t=99336

as is typical, it depends.................................
by kaneohe
Thu Oct 23, 2014 10:53 am
 
Forum: Investing - Help with Personal Investments
Topic: Do inherited IRA's affect taxes due on a Roth conversion?
Replies: 1
Views: 151

Re: Question about nondeductible traditional IRAs

Your points about considering additional contributions to a nondeductible tIRA are well taken. The points made in this forum have opened my eyes that taxable would most likely be a better choice as the money will be heavy in equities due to the AA in my other accounts. So, you are saying that when ...
by kaneohe
Thu Oct 23, 2014 10:45 am
 
Forum: Investing - Help with Personal Investments
Topic: Question about nondeductible traditional IRAs
Replies: 6
Views: 416

Re: MAGI/ ira limit question

Maybe I am missing the point of a nondeductible ira contribution. It would like putting money into a taxable account, except where dividends are concerned. Money is taxed when you put it in and taxed when you take it out.................................. believe it or not, the IRS does not believe ...
by kaneohe
Thu Oct 23, 2014 10:13 am
 
Forum: Personal Finance (Not Investing)
Topic: MAGI/ ira limit question
Replies: 12
Views: 511

Re: MAGI/ ira limit question

You need to report nondeductible contributions on this form http://www.irs.gov/pub/irs-pdf/f8606.pdf
Otherwise IRS doesn't know they are nondeductible and assumes otherwise, in which case they are taxable when withdrawn.
by kaneohe
Thu Oct 23, 2014 9:18 am
 
Forum: Personal Finance (Not Investing)
Topic: MAGI/ ira limit question
Replies: 12
Views: 511

Re: Question about nondeductible traditional IRAs

[quote="Bigvol"I ............................................................... Also have been contributing to a nondeductible tIRA. I started the nondeductible tIRA when my income rose above the limits for the Roth IRA and the gains from my existing deductible IRA's were too much (IMO) t...
by kaneohe
Thu Oct 23, 2014 9:07 am
 
Forum: Investing - Help with Personal Investments
Topic: Question about nondeductible traditional IRAs
Replies: 6
Views: 416

Re: MAGI/ ira limit question

a regular or normal Roth........in your case, you would have to recharacterize your existing TIRA contribution and it would be as if you had made the contribution to a Roth in the first place (talk to your broker or fund company).
by kaneohe
Wed Oct 22, 2014 8:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: MAGI/ ira limit question
Replies: 12
Views: 511

Re: Help with HSA in CA. Am I ready? How-to?

The best investments for California HSAs if you want to minimize state taxes are nominal US Treasuries and CA Munis. (And even those aren't fully immune if you hold them in a fund that has short- or long-term capital gains distributions.) California taxes pretty much all other investment types in a...
by kaneohe
Wed Oct 22, 2014 8:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with HSA in CA. Am I ready? How-to?
Replies: 21
Views: 1334

Re: lost 8606 from years ago - am I in trouble?

I would guess that you can file w/o the 8606. If IRS has a problem w/ that , they will have to dig up the 8606 (if filed) and then you will have it. Then do a 1040X and get your $5 back. The risk seems to be that if file w/o it, then years later find the 8606, you may lose that $600 basis because IR...
by kaneohe
Wed Oct 22, 2014 7:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: lost 8606 from years ago - am I in trouble?
Replies: 16
Views: 1682

Re: MAGI/ ira limit question

Front door Roth if you really can't do the TIRA deduction
by kaneohe
Wed Oct 22, 2014 6:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: MAGI/ ira limit question
Replies: 12
Views: 511

Re: Help with HSA in CA. Am I ready? How-to?

[quote="sliu" Yes, I agree that TIPS and CA/National Munis are the least taxed investments for CA state taxes on HSAs. I looked over my previous year's state tax return and did not find a line item where HSA taxable gains could be reported. I use freetaxusa.com (perhaps I need to use a dif...
by kaneohe
Wed Oct 22, 2014 3:47 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with HSA in CA. Am I ready? How-to?
Replies: 21
Views: 1334

Re: Which lots do you sell when redeeming shares?

You've got it. Sell the ones with the least tax burden unless you would not have to pay cap gains taxes due to your tax bracket. Then you may want to realize some cap gains (sell shares with lower cost basis), up to the limit where they become taxable. so holding period (>1 yr?) may become importan...
by kaneohe
Wed Oct 22, 2014 11:11 am
 
Forum: Investing - Theory, News & General
Topic: Which lots do you sell when redeeming shares?
Replies: 14
Views: 888

Re: lost 8606 from years ago - am I in trouble?

Does this mean you put in the max each year buy didn't deduct the max that year? Maybe I have it all wrong, but it sounds like you have the tax returns so you need to look up what was the max each year and check to see which return is inconsistent with that (600 less). Of course, if you didn't put ...
by kaneohe
Wed Oct 22, 2014 10:39 am
 
Forum: Personal Finance (Not Investing)
Topic: lost 8606 from years ago - am I in trouble?
Replies: 16
Views: 1682

Re: 2015 Medigap plan changes

caroljm36 wrote:I don't but expected to get the big Medicare book this year and didn't. is it related I wonder?


I got the big book about 2 wks ago.
by kaneohe
Wed Oct 22, 2014 10:32 am
 
Forum: Personal Finance (Not Investing)
Topic: 2015 Medigap plan changes
Replies: 13
Views: 604

Re: Write-off capital loss against capital gains?

We have written off the mortgage interest and property taxes every year because this lot was purchased strictly as an investment. Given that you can prove this past treatment of the asset, you should be okay with the IRS per CPA's advice. Best wishes. I am not sure how you reach this conclusion. If...
by kaneohe
Wed Oct 22, 2014 9:46 am
 
Forum: Personal Finance (Not Investing)
Topic: Write-off capital loss against capital gains?
Replies: 27
Views: 1235

Re: Feeling very fortunate today!

..................................... or maybe the company will come to me and make the decision for me...................... Don't underrate this possibility.................I would say it could be a blessing in disguise, assuming you're prepared $$$ -wise, kind of like being thrown into the swimm...
by kaneohe
Tue Oct 21, 2014 3:50 pm
 
Forum: Investing - Help with Personal Investments
Topic: Feeling very fortunate today!
Replies: 52
Views: 6146

Re: "You're invited to...." (nonsense talk and dinner)

Your noble goal will be to provide a counterbalance to the prepared speech so that your fellow diners will not become easy victims. In fact, that is my noble goal, aside from not having to cook (a less noble goal). . Be aware that at many of these talks, no questions are allowed............on the g...
by kaneohe
Tue Oct 21, 2014 3:42 pm
 
Forum: Personal Consumer Issues
Topic: "You're invited to...." (nonsense talk and dinner)
Replies: 68
Views: 4032

Re: "You're invited to...." (nonsense talk and dinner)

Depends how you put valuations on your time and money..........but everyone should attend at least one for the education. You may actually learn something, but if not , meet some interesting people. Your noble goal will be to provide a counterbalance to the prepared speech so that your fellow diners...
by kaneohe
Tue Oct 21, 2014 2:53 pm
 
Forum: Personal Consumer Issues
Topic: "You're invited to...." (nonsense talk and dinner)
Replies: 68
Views: 4032

Re: capital loss

see Sch D http://www.irs.gov/pub/irs-pdf/f1040sd.pdf

pt I. Short term gains/losses netted
pt II Long term gains/losses netted
pt III Short term/long term netted
see lines 16, 21 (limitations in line 21)
by kaneohe
Tue Oct 21, 2014 2:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: capital loss
Replies: 3
Views: 329

Re: Can 401K distributions cover IRA RMDs?

I don't think you can even take RMDs from 1 401K to cover another 401K, so not likely you could cover an IRA from a 401K.
by kaneohe
Tue Oct 21, 2014 11:26 am
 
Forum: Investing - Help with Personal Investments
Topic: Can 401K distributions cover IRA RMDs?
Replies: 2
Views: 193

Re: [Confused with Medigap Options]

I have been going through the exercise to see if it would be better for me to get the hi-ded plan F or plan G. I took a look at my records for last year to see how I would have fared had I had to pay the $2,180.00 deductible for plan F. It is impossible to figure out what is what. As an example, I ...
by kaneohe
Tue Oct 21, 2014 10:05 am
 
Forum: Personal Finance (Not Investing)
Topic: [Confused with Medigap Options]
Replies: 39
Views: 1782

Re: [Confused with Medigap Options]

"Thankfully, since I am on plan G, I had nothing to pay as well as not having to attempt to reconcile these charges." At some point (early on in the year) you did have to cough up the first $147 of somebody's charges, didn't you? Plan G does not pay the Part B premium. You pay the Part B ...
by kaneohe
Mon Oct 20, 2014 5:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: [Confused with Medigap Options]
Replies: 39
Views: 1782

Re: [Confused with Medigap Options]

Isn't that SOP in this country? http://www.costco.com/warehouse-coupon-offers.html Instant savings $130 off (off what? no base price listed). Or commonly seen : Buy one, get one free (again no base price listed). At some point, shouldn't we have learned our lesson so it becomes our responsibility?
by kaneohe
Sun Oct 19, 2014 1:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: [Confused with Medigap Options]
Replies: 39
Views: 1782

Re: Medigap Plan G vs Plan F?

Kaneohe- This is a link to find your state's SHIP contact: https://shipnpr.shiptalk.org/shipprofile.aspx?AspxAutoDetectCookieSupport=1 They provide assistance for free and in my state they have free Medicare classes. They also have listings of all the Medigap providers with premium info & conta...
by kaneohe
Sat Oct 18, 2014 6:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medigap Plan G vs Plan F?
Replies: 60
Views: 7538

Re: Medigap Plan G vs Plan F?

This was simply suggested as an easy way to get rates for medigap policies for your particular situation in a few minutes similar to the way that the Medicare.gov site does for Medicare Advantage and Prescription Drug Plans. Are you saying the info is not accurate? Might be accurate but hardly comp...
by kaneohe
Sat Oct 18, 2014 2:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medigap Plan G vs Plan F?
Replies: 60
Views: 7538

Re: [Confused with Medigap Options]

AARP-UHC is a racket. I've had an AARP Medigap (plan F) administered by UHC for several years. I have been very pleased with them. They've been great, including through a hospitalization and really extensive ongoing use of specialists. In 2008 my annual premium cost was $1373.66. In 2015 it will be...
by kaneohe
Sat Oct 18, 2014 11:19 am
 
Forum: Personal Finance (Not Investing)
Topic: [Confused with Medigap Options]
Replies: 39
Views: 1782

Re: Medigap Plan G vs Plan F?

I think Kaiser Health just did a study on Medigap policies. One of its conclusions was that the monthly premium for the same plan varied dramatically from company to company. Calling a slew of companies is time-consuming. Also, in many cases you are asked for your name, address, and phone number. A...
by kaneohe
Sat Oct 18, 2014 11:03 am
 
Forum: Personal Finance (Not Investing)
Topic: Medigap Plan G vs Plan F?
Replies: 60
Views: 7538

Re: Medigap Plan G vs Plan F?

Perhaps this site might be useful. It's from a private exchange and gives some provider costs based on geographic area, age, etc. Not all providers show up (AARP UHC in particular) /quote] This is a website put up by the insurance companies themselves. Not from an indep. consumer research group. Bu...
by kaneohe
Sat Oct 18, 2014 12:01 am
 
Forum: Personal Finance (Not Investing)
Topic: Medigap Plan G vs Plan F?
Replies: 60
Views: 7538

Re: Medigap Plan G vs Plan F?

Perhaps this site might be useful. It's from a private exchange and gives some provider costs based on geographic area, age, etc. Not all providers show up (AARP UHC in particular) but you can call the missing ones you might be interested in and have a basis for comparison. You can change the age an...
by kaneohe
Fri Oct 17, 2014 6:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medigap Plan G vs Plan F?
Replies: 60
Views: 7538

Re: TIAA Trust Company

Sorry ,no experience w/ TIAA Trust but you may find this of interest:
http://socialize.morningstar.com/NewSocialize/forums/t/185731.aspx

It discusses TIAA Trust and TIAA WMA .
by kaneohe
Thu Oct 16, 2014 9:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: TIAA Trust Company
Replies: 1
Views: 154

Re: Minimum amount for Vanguard Money Market?

Adding to the noise but no light..........somewhere I think I found something from VG saying that if total combined account balance > X$, then no minimum required for either prime money mkt fund or tax-exempt money mkt fund. Unfortunately, even tho this was recent, I don't recall where I read that o...
by kaneohe
Thu Oct 16, 2014 8:50 pm
 
Forum: Investing - Help with Personal Investments
Topic: Minimum amount for Vanguard Money Market?
Replies: 13
Views: 3498

Re: Medigap polcies - selecting for first time

You might want to call the Medicare toll free number 3x to get a majority vote (some reps are definitely more knowledgeable than others). My guess is those services, esp. if provided in a separate area from the doctors' offices , are not an office visit. If I see the doctor, I see a definite office ...
by kaneohe
Sat Oct 11, 2014 8:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medigap polcies - selecting for first time
Replies: 22
Views: 1362

Re: Back Door Roth IRA Question

See the chart on page 72 of Publication 590 to figure out what I said above. :D I think your words in the post above are more relevant than this chart. Seems to me that OP would end up in that nebulous catchall box on the lower right side.......where distributions are not qualified and "might&...
by kaneohe
Thu Oct 09, 2014 10:14 am
 
Forum: Investing - Help with Personal Investments
Topic: Back Door Roth IRA Question
Replies: 19
Views: 989

Re: Back Door Roth IRA Question

See the chart on page 72 of Publication 590 to figure out what I said above. :D I think your words in the post above are more relevant than this chart. Seems to me that OP would end up in that nebulous catchall box on the lower right side.......where distributions are not qualified and "might&...
by kaneohe
Thu Oct 09, 2014 8:48 am
 
Forum: Investing - Help with Personal Investments
Topic: Back Door Roth IRA Question
Replies: 19
Views: 989

Re: Inaccurate Terminology or Description in Vanguard Statem

Not this particular problem mixing company account terminology with personal account. However in a 401K account, when I take distributions, the quarterly statement does not show a line item even hinting at that since it is combined with a bunch of other stuff as a single line item. The first line re...
by kaneohe
Wed Oct 08, 2014 9:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Inaccurate Terminology or Description in Vanguard Statements
Replies: 3
Views: 420

Re: Back Door Roth IRA Question

I believe there are two 5 year rules, which is where some of the confusion comes from. Pretty thorough explanation here: http://www.kitces.com/blog/understanding-the-two-5-year-rules-for-roth-ira-contributions-and-conversions/ Bottom line: unless you're planning to take distributions from the Roth ...
by kaneohe
Tue Oct 07, 2014 11:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: Back Door Roth IRA Question
Replies: 19
Views: 989

Re: Backdoor Roth Contribution Date

Seems like 2 different concepts are being mixed here: contributions and conversions. Since there is an annual limit on contributions but not on conversions, the important deadline is for contributions, not conversions, so OP is correct about the timing of the non-deductible contribution to TIRA. Ye...
by kaneohe
Tue Oct 07, 2014 5:51 pm
 
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth Contribution Date
Replies: 9
Views: 583

Re: Backdoor Roth Contribution Date

Seems like 2 different concepts are being mixed here: contributions and conversions. Since there is an annual limit on contributions but not on conversions, the important deadline is for contributions, not conversions, so OP is correct about the timing of the non-deductible contribution to TIRA.
by kaneohe
Tue Oct 07, 2014 4:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth Contribution Date
Replies: 9
Views: 583

Re: Back Door Roth IRA Question

................. there's no downside to doing the Backdoor Roth vs qualifying for Roth, other than the 5 year conversion period. I believe that 5 years begins with the last contribution, no? I believe the clock begins with the conversion..........some call it the conversion contribution. In OP's c...
by kaneohe
Tue Oct 07, 2014 4:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: Back Door Roth IRA Question
Replies: 19
Views: 989

Re: Is the IRA custodian responsible for initiating RMDs?

My 401Ks also have a default that if I don't take the RMD myself, they will force it out in late December. Since 401Ks cannot be aggregated,unlike IRAs, this makes great sense to save us from ourselves.
by kaneohe
Tue Oct 07, 2014 12:30 pm
 
Forum: Investing - Help with Personal Investments
Topic: Is the IRA custodian responsible for initiating RMDs?
Replies: 26
Views: 1456

Re: Is the IRA custodian responsible for initiating RMDs?

5498s really have little to no bearing on the current topic at hand. It's really the 1099Rs that are key. Someone please correct me if I'm wrong. 1099Rs tell you what came out. 5498s tell you info about how much should have come out (after more calculation). You can decide whether that has any bear...
by kaneohe
Tue Oct 07, 2014 9:36 am
 
Forum: Investing - Help with Personal Investments
Topic: Is the IRA custodian responsible for initiating RMDs?
Replies: 26
Views: 1456
Next

Return to advanced search